The farce of self-regulation
August 1, 2008 by Miki Saxon
Yesterday I asked, “What else does Wall Street and the financial industry do besides cripple corporate strategic efforts?”
They fight for self-regulation, assuring watchdog agencies and Congress that they are good guys that should be trusted to do the best thing and that the economy will tank if any kind of control or regulation is enacted—and they win.
They win based on the money spent to focus the efforts of well-connected lobbyists on stopping cold, or at least significantly watering down, any legislation or rules that might offer protection to us—the people who keep them all in BMWs and champagne.
Wall Street and …read more
Wordless Wednesday: Wall Street self-regulation
July 30, 2008 by Miki Saxon
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Image credit: reznor70 CC license